Bank failure · PA

Meritor Savings Bank (Philadelphia, PA) — failed December 11, 1992

Meritor Savings Bank of Philadelphia, Pennsylvania was closed on December 11, 1992 and resolved through a purchase and assumption. Mellon Bank National Ass (PA) took over its insured deposits. At failure it held $4.1B in assets and $2.9B in deposits. The FDIC's estimated loss on the failure is $360 (0.0% of assets).